How to Start Your Own Business!: Business Techniques Training Series

By Kimberly Peters

If you have ever though about starting your own business and experiencing the rewards and security that comes along with owning a business, then this is the book for you!
"How to Start Your Own Business" will take you through everything you need to know to create, start and operate a fully functioning small business.
When we say we give you everything you need to know we aren't kidding. We spend time making sure you know what is involved, which skills you are likely to need and how to get those skills if you do not have them.
We show you the good and not so good aspects of owning your own business so you go in with your eyes open and do not get any "surprises" along the way!
The great thing is that anyone can easily stat their own business and it can be done for less than $50 if you are willing to do a little work yourself! We are talking about a fully function business where you can sell products, services or information to whomever needs it!
If you want a chance to get the wealth your deserve and if you want to start making yourself rich instead of making others rich, this is the book for you.
But this is not one of those "get rich quick" scam books. If that is what you are looking for then keep looking. This book will show you how to build a successful business through established business practices and a little work.
So if you are dreaming about owning your own business, then take that dream and turn it into reality with "How to Start Your Own Business". It contains everything you need to know and then some!

• Language: English
• Publisher: Kimberly Peters
• Release date: Jul 19, 2015
• ISBN: 9781516336890

Book preview

How to Start Your

Own Business

All You Need to Know to

Easily Start Your Own Business

for Less than $50!

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By

Kimberly Peters

For

The Customer Service Training Institute

All rights Reserved 2015 – The Customer Service Training Institute

Disclaimer

This publication is designed to be used as an educational resource only and not as the basis for the conception, design, starting or growing of any particular business. All businesses, locations and people are different and the authors, distributors and sellers of this publication assume no responsibility for the implementation or use of any or all parts of this publication. It is up to the reader to determine the suitability of any technique or concept contained within this publication and decide whether or not it is appropriate.

Contents

Introduction

Why Start Your Own Business?

Are You the Right Type of Person?

You Need to Be Honest with Yourself

The Good

The Bad

Love What You Do & Do What You Love

Choosing the Type of Business

Choosing & Protecting Your Name

Establishing Goals & Objectives  ...........................(Creating Your Business Plan)

The Need for Organization

What Should I Sell? (What Makes a Great Product?)

Investigating the Market

Know Your Costs & Expenses

Your Unique Market Position

Protecting Yourself

Start-Up Costs & Finances

The Shoestring Business –  Open a Business for $50 or Less!

Low & No-Cost Options

Get Help

How to Market Your Products or Services Properly

When Will I Turn a Profit?

Integrating Recurring & Add-On Revenue

Creating a Scalable Business

Creating a Stable & Secure Business

Diversification

Becoming Known (Developing Your Brand)

Customer Service

Legal Issues

Tax Issues

Local Rules & Regulations

Networking

Hiring Employees

Beware of Scams

Most Common Reasons Business Fail

Learning from your Mistakes

Quick Start Guide

Starting Your $50 Business

How Should You Spend Your Money?

Investing in Your Business

Beware of FREE Resources!

Conclusion

Introduction

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When it comes to dreams about our future financial prosperity, the thought of owning our own business pops into the heads of a lot of people. The thought of earning a huge income and creating something that will help pave the way for a secure and expensive lifestyle holds a lot of hope and promise for many people.

The fact that starting and creating your own business can become a reality for just about anyone, you have to go into the process with your eyes open and with the ability to answer some tough questions honestly and openly. If you can do that, you will save yourself a lot of time and trouble later on.

There are many ways you can start your own business. You can take an idea and turn it into a product or service and start selling it to other people. Behind every huge company there were people who had a simple idea or a great product that made that business possible. There is no reason why you cannot be the next success story.

Throughout this book you will find a lot of information and a healthy dose of reality because if you are going to have a legitimate shot at success, you must ALWAYS deal with reality. Hopes and dreams are not enough to be successful. You need a great idea or product and sometimes a bit of luck thrown in as well.

Though not all the material in this book might not apply to you and your situation, you should read every word anyway. Because you are bound to learn something or even just become aware of something that will help you down the road a bit. It is much easier, and also much cheaper, to learn from other people’s mistakes instead of making those same mistakes yourself. So read every word and try and apply it in your life, your dreams and your own individual situation. You will save yourself a lot of wasted time and money if you will just do that.

The key to your success in creating your own business, as well as most everything else in life, is to try your best and always be honest with yourself along the way. There are good ideas that make their owners millions and there are some great ideas that don’t sell at all. You need to know when you have a winner and to move ahead and also when you have a loser and learn to quit and start over.

That is the greatest obstacle that lies between you and your future success. Everyone experiences failure at some points in their life so it is not a matter of avoiding failure because that is impossible. Instead, whether you are going to be a success or not often will depend on how you react to that failure and what you do next.

Successful people learn from their failures so they don’t make the same mistake next time. Because of their failure they will do things differently moving forward and eliminate that cause of failure from happening again. You might say that this is a trial by error process and you would be exactly correct. You try, you fail, you make adjustments and you try again. That is how people become successful.

But if you stop trying, or even become so afraid of failure that you never try in the first place, you will never truly become successful or do your best in life. You need to put yourself out there and go after what you want in life. Most other people do that and if you don’t, you will be left standing by the wayside.

You may find out that running your own business isn’t for you and if that is the case that’s just fine. Not everyone is cut out to own their own business just like some people are not cut out to be athletes or concert pianists.

But if that is something you dream about, then you owe it to yourself to at least investigate it further. That is why this book is going to become so valuable to you. We are going to show you what it takes, what lies ahead and what type of skills you are going to have I order to become a successful business owner. Then you can see if that is something you are still interested in.

But the truly wonderful thing about owning your own business is that you get to design the business to best suit YOUR needs. You can make it as large or as small as you want it and you can be totally involved and do everything or remove yourself from the picture by automating everything. The choice is yours and yours alone.

Another piece of great news is that it has never been easier to open your own business. Software tools are more in-depth yet easier to use than ever before and things that used to be reserved for the major players can now be within the reach of the small business owner working part time out of his or her parent’s garage.

So as we move forward, remember that you can do this if you really want to. So keep an open mind and always make the decisions based on what YOU want and not by whatever someone else might say. This is going to be YOUR business so it should be run YOUR way and reflect who YOU are and what YOUR values might be.

A few words before we get started about how this book was put together. We have been writing business training manuals and materials for over 25 years and we have created a certain format that enables more people to get more out of the training in less time with better results. It has taken us a long time to arrive at this format but once we did, we started seeing people getting amazing results in less time than they ever thought possible.

Since many people who buy instructional or personal improvement books like this one have an immediate or very important need, most of these readers will jump ahead to those sections of the book. While that is perfectly fine, sometimes they might miss material presented earlier and not be able to fully understand what we are covering in that chapter they started with.

To help eliminate that problem we have done our best to create each chapter as a stand-alone chapter that contains all the material and knowledge necessary to understand what that chapter is all about. This helps people understand better and retain the information for longer periods of time.

Because of this approach you might see certain material repeated once or twice and this is not by accident or error. Instead, we do it so that people can understand no matter where they start the book or whatever order they decide to read it in. Another benefit of this approach is that often the most important material is repeated and the more often you read something, the longer you will retain that particular information. Feel free to take notes as you go through the book as well. This will also greatly improve your understanding and increase the time that you will retain that information even more.

Last, but certainly not least, you are going to read a lot of information and techniques that will help you start and run your new business. But the best way of learning and understanding this new information is by taking what you have read and then turn it into something that is relevant to your situation and dreams. When you are able to do that, the material will jump off the pages and become real for you. That is when you will really learn the material that will help you start and operate a successful business.

Why Start Your Own Business?

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Some people wonder why other people seem so committed to starting their own business. They don’t see the reasons or rewards behind it and instead concentrate on the risks and negatives. But despite this, there are many reasons why some people get the entrepreneurial spirit and go out and start their own business.

Some of the reasons are very valid while other reasons contain perceptions or generalizations that might or might not be accurate or even valid. Plus, to confuse things even more, even the most valid and spot on reasons might not apply to certain people.

Most of the time the allure about owning your own business is the chance to have freedom to do what you want when you want without having to ask a boss or an owner for a day off or whether or not you can leave early. They honestly believe that since you are the owner or the boss you can set your own schedule and work when you want, if you want and forever long you want.

Another powerful reasons is that most people feel that owning your own business is the only way to achieve financial freedom and wealth in a relatively short period of time. They like the idea that instead of taking a salary or small commission, they will instead take 100% of the profits generated by the business. After all, 100% is almost always better than a lower percentage when it comes to profits!

Then there are people who are driven to improve something or solve a problem or deliver something brand new to the world. Even though no one else might share their dream or work hard to make it possible, they realize that they can do this all by themselves through their own business. This is exactly how some of the largest and most successful companies got their start. They took an idea and some passion and brought it to life.

Still others like the idea of being in greater control of one’s destiny. In this age or corporate downsizing and layoffs, the idea of owning your own company and playing an active role in your future just makes sense. But even this is an oversimplification of the reality of business ownership.

Then we have the most interesting group of business owners and those are the people who could not get a job in the current labor market and faced with bills, mortgages and other expenses they took the bull by the horns and didn’t wait for someone to hire them, they hired themselves. Sometimes the worst possible situations can turn out to truly have a silver lining.

I think if you were to look at the most successful entrepreneurs today you would see a mixture or blend of several of these feelings or reasons in their past that caused them to go it alone and start their own business. This is because there are always reasons for what people do in their lives. All we have to do is look hard enough and long enough and we will find it.

But there is one thing that bonds all successful entrepreneurs together and that is their entrepreneurial spirit. That spirit that tells them that they can be successful even when everyone else tells them to go in another direction. These are the people who don’t listen to the critics and just go out and achieve their dreams.

Owning your own business will have its own unique set of challenges and rough spots. But if the idea is right and the person is right, the rewards can be amazing. Besides the financial rewards and the increased control over ones destiny, you cannot beat the feeling of accomplishment you get when you see the business you created grow and grow over time.

So if you have the desire and the spirit and if you are willing to make the sacrifices and put in the effort required to build a successful spirit, then the future could very well look extremely bright for you and your family.

Are You the Right Type of Person?

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While I do not like to burst anyone’s bubble so early on, you need to determine first and foremost whether you are the type of person that can create and operate their own business. This is important because some of us are just not cut out for business ownership and it is much better to find out now rather than later when the business starts to falter.

People who start and run their own business need to have a certain set of skills and personality traits. Without any of these particular skills or traits the entire business will be at risk. With that in mind here are a list of some of the most important skills and traits that the business owner needs to have in order to start and build their own successful business:

Self-Starter

When you own your own business, you will need to know what needs to be done and when it needs to be done and you will have to make sure that you take care of business. There will be no one around to show you what to do or tell you when something needs to be done. It is going to be up to you and only you to see that everything is taken care of.

If you are the type of person who needs to be shown the way or given specific instructions in order to complete a task you should reconsider starting your own business. That is because you will have to make all the decisions on your own without outside help or guidance.

If you are not a self-starter and do not work well without supervision but still want to start your own business, I suggest you take on a partner who can perform those functions and act as a managing partner to help you stay on track. Many business operate just fine with this type of arrangement. One partner takes care of the planning and implementation while the other handles the creative or product side. The key is knowing who you are and what you are capable of.

Detail Oriented

Starting and operating a business requires the attention to a million little details. From expenses to product design and placement to marketing and a host of other things, there is much to do and a lot of details involved.

Owning a business requires attention to the little things that many people think are not important. Little things such as deadlines and paperwork are critical to the overall success of a business. Understanding what needs to happen and exactly how it should happen can make all the difference in the world when it comes to a small business.

This is especially true throughout the start-up phase where everything is new and when there are so many things that could go wrong if not done properly. As time goes on and the bugs all get worked out these little details may go away but in the beginning, it is the little things that can bring a business to its knees and it can happen very quickly.

Goal Oriented

Creating a business is more than taking a product or an idea and selling it to the masses. There are objectives to meet and goals to achieve. Goals are what you want the business to achieve within a certain period of time. Goals are important because they are the driving forces behind the day to day actions within your business.

Do you want to create a $100,000 a year business or a $100,000,000 a year business? This is important because the structure and policies of the business will need to support your growth and goals. In other words, you need to understand where you want to go and how to get to that point in the most efficient manner possible.

Goals are extremely important to a new business because they give you a perspective on how well you and your business are doing. For example, if you feel you can create a $1,000,000 a year business but 6 months into the business you have only sold $1,500 worth of product, you might be in serious trouble. But if your goals were to be at the $1,500 point 6 months in and at $50,000 by the end of the first year you might be on the right track.

Goals help keep you focused and on the right track. They show you when things are going well and when corrective measure might have to take place. If you are someone that doesn’t believe in goals or feel they have little value, then you and your business might be in for a lot of trouble down the road. Especially in the very beginning.

High Degree of Common Sense

Throughout my career in the business world I have seen many person with a huge amount of book knowledge and advanced degrees fail miserably in the workplace. Not because they were not smart or lacked the required knowledge but because they were unable to take what they had learned and implement it in the real